Scripps Networks Interactive (SNI)

Scripps Networks Interactive Inc. has agreed to buy a controlling stake in the Travel Channel from Cox Communications Inc. Scripps Networks will pay $181 million to get 65 percent of the channel through a joint venture with Cox, which will keep the remaining stake, the companies said today in a statement. Cox will contribute the channel, valued at $975 million, and their venture will take on $878 million in debt.
Scripps bid trumps a bid by News Corp. for the cable- television network.

Nov 5 · 10:47:00 AM · Source: Company News
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by Larry Etter